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CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
REVENUES        
Base management fees $ 170 $ 178 $ 526 $ 509
Franchise fees 227 203 652 560
Incentive management fees 68 67 238 220
Owned, leased, and other revenue 229 244 729 747
Cost reimbursements 2,884 2,768 8,635 8,201
Revenues 3,578 3,460 10,780 10,237
OPERATING COSTS AND EXPENSES        
Owned, leased, and other - direct 175 189 552 573
Reimbursed costs 2,884 2,768 8,635 8,201
Depreciation, amortization, and other 31 33 107 116
General, administrative, and other 149 172 446 479
Costs and Expenses, Total 3,239 3,162 9,740 9,369
OPERATING INCOME 339 298 1,040 868
Gains and other income, net 0 1 20 4
Interest expense (43) (29) (121) (89)
Interest income 5 8 19 17
Equity in earnings 8 12 13 6
INCOME BEFORE INCOME TAXES 309 290 971 806
Provision for income taxes (99) (98) (314) (250)
NET INCOME $ 210 $ 192 $ 657 $ 556
EARNINGS PER SHARE        
Earnings per share - basic (in USD per share) $ 0.80 $ 0.66 $ 2.43 $ 1.90
Earnings per share - diluted (in USD per share) 0.78 0.65 2.38 1.86
CASH DIVIDENDS DECLARED PER SHARE (in USD per share) $ 0.25 $ 0.20 $ 0.70 $ 0.57